The Office of the United States Trade Representative stripped both countries of their preferred trade status.
Just as the U.S. seems on the cusp of ending its internecine trade war with China, President Donald Trump may be setting the stage for another tariffs standoff, this time with India and Turkey.
Reuters reported that the move by Washington is the most punitive measure taken against India since President Trump took office. Trade ties between the U.S. and India have suffered with new e-commerce rules in the Asian nation hampering business for U.S. internet retail giants such as Amazon and Walmart-backed Flipkart.
India will not fight the U.S. on the GSP removal. “GSP is more symbolic of the strategic relationship, not in value terms,” a government official told the news agency on condition of anonymity.
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